For people who are having trouble paying their mortgage or are already facing foreclosure,1 mortgage modification may be able to help lower their monthly payments and allow them to stay in their home. There are various mortgage modification programs available, some of which are created by federal law and others that are created by lenders themselves.
If you are considering pursuing a mortgage modification, you should discuss your situation at length with an attorney familiar with the process. There are many ways that a lawyer can help you apply for and obtain a loan modification that will help you stay on top of your payments, some of which are discussed below.
A Lawyer Will Determine Your Eligibility
As mentioned above, there are various mortgage modification programs available. An attorney will thoroughly evaluate your financial situation and determine for which you may be eligible and also advise you about the pros and cons of each one.
Your Attorney Will Help You Apply for Your Mortgage Modification
Applying for a mortgage modification in Utah involves submitting an application and supporting documentation detailing your finances and establishing that you are experiencing a financial hardship. When you retain an attorney to help you pursue a mortgage modification, he or she will help you prepare and collect the required paperwork in order to ensure that your application is processed as quickly as possible. Additionally, a lawyer will be able to communicate on your behalf with your mortgage lender in case any issues with your application arise after it has been submitted.
The Representation of an Attorney Will Protect Your Rights
Mortgage lenders are subject to federal and state laws and regulations regarding issues like foreclosure, mortgage modification, and the way they attempt to collect past due debts. An experienced attorney will ensure that your lender is in compliance with the law and that your rights are enforced.
Contact JLT Law Today to Speak with a Salt Lake City Loan Modification Attorney
If you are struggling to pay your mortgage payment each month and believe a loan modification may help, you should speak to an attorney immediately. To schedule a free consultation with one of our lawyers, call JLT Law today at (801) 896-9444 or contact us online.